UCITS funds still robust despite outflows, says EFAMA
17 September 2014 Brussels
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The European Fund and Asset Management Association (EFAMA) has published its latest Investment Funds Industry Fact Sheet, detailing the net sales of UCITS and non-UCITS in Europe.
The data was submitted by 27 companies that, combined, make up more than 99.6 percent of the total European industry.
Net sales of UCITS dropped to €14 billion in September from €41 billion in August, a dramatic reduction that was largely attributed to a return to money market funds throughout the month.
Despite this, net flows of money markets recorded outflows of €14 billion, compared to a net income of €9 billion in August.
Long-term UCITS funds also reported reduced income, with net sales of €13 billion compared to €16 billion in August.
Net flows in to equity reduced for the first time since June 2013, with outflows of €6 billion, compared to an inflow of €2 billion in August.
In contrast, balanced funds reported an increase in net sales from €13 billion in August to €18 billion in September.
In total, non-UCITS funds registered net losses of €7 billion, a reduction in income of €8 billion in August. This has been attributed to outflows in special funds, which in turn are the result of a one-off asset transfer by a large institutional client.
At the end of September 2014, net assets of UCITS funds equated to €7.864 billion, representing an increase of 0.8 percent during the month.
Net assets of non-UCITS funds increased by 0.3 percent to reach €3.112 billion at the end of the month.
Despite a reduction in income compared to August’s figures, the total net assets in the European investment funds industry reached €10.975 billion by the end of September, an increase on September 2013’s figure of €9.471 billion.
Bernard Delbecque, EFAMA director of economics and research, said: “Despite net outflows from equity funds, net sales of long-term UCITS remained robust in September thanks to sustained demand for bond funds and rising demand for balanced funds.”
The data was submitted by 27 companies that, combined, make up more than 99.6 percent of the total European industry.
Net sales of UCITS dropped to €14 billion in September from €41 billion in August, a dramatic reduction that was largely attributed to a return to money market funds throughout the month.
Despite this, net flows of money markets recorded outflows of €14 billion, compared to a net income of €9 billion in August.
Long-term UCITS funds also reported reduced income, with net sales of €13 billion compared to €16 billion in August.
Net flows in to equity reduced for the first time since June 2013, with outflows of €6 billion, compared to an inflow of €2 billion in August.
In contrast, balanced funds reported an increase in net sales from €13 billion in August to €18 billion in September.
In total, non-UCITS funds registered net losses of €7 billion, a reduction in income of €8 billion in August. This has been attributed to outflows in special funds, which in turn are the result of a one-off asset transfer by a large institutional client.
At the end of September 2014, net assets of UCITS funds equated to €7.864 billion, representing an increase of 0.8 percent during the month.
Net assets of non-UCITS funds increased by 0.3 percent to reach €3.112 billion at the end of the month.
Despite a reduction in income compared to August’s figures, the total net assets in the European investment funds industry reached €10.975 billion by the end of September, an increase on September 2013’s figure of €9.471 billion.
Bernard Delbecque, EFAMA director of economics and research, said: “Despite net outflows from equity funds, net sales of long-term UCITS remained robust in September thanks to sustained demand for bond funds and rising demand for balanced funds.”
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